LXP Industrial Trust (NYSE:LXP) Short Interest Up 23.0% in November

LXP Industrial Trust (NYSE:LXP) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 5,140,000 shares, an increase of 23.0% from the October 31st total of 4,180,000 shares. Based on an average daily volume of 1,990,000 shares, the short-interest ratio is presently 2.6 days.

LXP Industrial Trust Price Performance

LXP traded up $0.08 during trading on Monday, hitting $9.43. The company’s stock had a trading volume of 2,185,256 shares, compared to its average volume of 2,196,680. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 157.19 and a beta of 0.88. LXP Industrial Trust has a twelve month low of $8.23 and a twelve month high of $10.56. The business’s fifty day simple moving average is $9.57 and its 200 day simple moving average is $9.56. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.21.

LXP Industrial Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 5.73%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from LXP Industrial Trust’s previous quarterly dividend of $0.13. LXP Industrial Trust’s payout ratio is presently 866.81%.

Hedge Funds Weigh In On LXP Industrial Trust

A number of large investors have recently added to or reduced their stakes in LXP. Nomura Asset Management Co. Ltd. lifted its position in shares of LXP Industrial Trust by 0.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 366,100 shares of the real estate investment trust’s stock valued at $3,679,000 after acquiring an additional 1,100 shares in the last quarter. HighTower Advisors LLC boosted its stake in LXP Industrial Trust by 2.6% during the 3rd quarter. HighTower Advisors LLC now owns 52,755 shares of the real estate investment trust’s stock worth $530,000 after purchasing an additional 1,333 shares during the last quarter. GAMMA Investing LLC boosted its stake in LXP Industrial Trust by 81.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,421 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 1,532 shares during the last quarter. Vert Asset Management LLC grew its holdings in shares of LXP Industrial Trust by 1.6% during the third quarter. Vert Asset Management LLC now owns 120,140 shares of the real estate investment trust’s stock worth $1,207,000 after buying an additional 1,874 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of LXP Industrial Trust by 2.4% in the second quarter. Arizona State Retirement System now owns 82,387 shares of the real estate investment trust’s stock valued at $751,000 after buying an additional 1,964 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI raised their price target on shares of LXP Industrial Trust from $10.00 to $11.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $11.25.

About LXP Industrial Trust

LXP Industrial Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) focused on single-tenant industrial real estate investments across the United States. LXP seeks to expand its industrial portfolio through acquisitions, build-to-suit transactions, sale-leaseback transactions, development projects and other transactions.